This book tells the story of how the transition to democracy in South Africa enfranchised blacks politically but without raising most of them from poverty. It shows in detail how the continuing strength of the white establishment forces the leaders of the African National Congress (ANC) to compromise plans for full political and economic transformation. Deferring the economic transformation, the new dispensation nurtures a small black elite. The new elite absorbs the economic interests of the established white elites while continuing to share racial identities with the majority of their countrymen, muffling the divisions between rich whites and poor blacks, thus ensuring political stability in the new South Africa.

Although democratic South Africa is officially "non-racial," the book shows that racial solidarities continue to play a role in the country's political economy. Ironically, racial identities, which ultimately proved the undoing of apartheid, have come to the rescue of contemporary democratic capitalism. The author explains how and why racial solidarities are being revamped, focusing particularly on the role of black economic empowerment, the black bourgeoisie, and how calls to represent the identities of black South Africans are having the effect of substituting the racial interests of black elites for the economic interests of the black poor.

“Deep, informed, and reeks of common sense.”
—Norman Ornstein

“It is now beyond debate that rising inequality is not only leaving millions of Americans living on a sharp edge but also is threatening our democracy…For activists and scholars alike who are struggling to create a more equitable society, this is an essential read.”
—David Gergen

We are in an age of crisis. That much we can agree on. But a crisis of what, exactly? And how do we get out of it?

In a follow up to their influential and much debated Death by a Thousand Cuts, Michael Graetz and Ian Shapiro focus on what really worries people: not what the rich are making or the government is taking from them but their own insecurity. Americans are worried about losing their jobs, their status, and the safety of their communities. They fear the wolf at the door. The solution is not protectionism or class warfare but better jobs, higher wages, greater protection for families suffering from unemployment, better health insurance, and higher quality childcare. And it turns out those goals are more achievable than you might think. The Wolf at the Door is one of those rare books that doesn’t just diagnose our problems, it shows how to address them.

“This is a terrific book, original, erudite, and superbly well-informed, and full of new wisdom about what might and what might not help the majority of Americans who have not shared in our growing prosperity, but are left facing the wolf at the door…Everyone interested in public policy should read this book.”
—Angus Deaton, Princeton University

“Graetz and Shapiro wrestle with a fundamental question of our day: How do we address a system that makes too many Americans anxious that economic security is slipping out of reach? Their cogent call for sensible and achievable policies…should be read by progressives and conservatives alike.”
—Jacob J. Lew, former Secretary of the Treasury